iCrowd Newswire – Jul 20, 2020
The Global NoSQL Market is estimated to grow at a substantial growth rate with a CAGR of 31.4% during the forecast period 2019-2026. As per the detailed market overview, the NoSQL marketplace was valued $2,410.5 million in the year 2018 and is anticipated to reach $22,087 million by the end of the year 2026.
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NoSQL is an acronym for Not Only SQL. It is a database process and can say a feasible technology developed to access, analyse and store schema-less large volume of unstructured data. This database offers various benefits such as precise control, higher availability, simple design and high scalability. It is an emerging technology in the database domain and is estimated to witness a high growth in the next few years.
The global NoSQL market is driven by various growth factors such as collaborative efforts by NoSQL vendors & customers coupled with innovative launches of NoSQL solutions. Hence, in consideration to improve the market offerings, customer companies demand NoSQL in a form of back-end support. Key companies such as Amazon, Riak, MongoDB are offering their NoSQL database at an open-source platform which can be upgraded as per the demand of businesses.
Increasing penetration of social media platforms such as LinkedIn, Facebook and other such as matrimonial sites, gaming websites, blogging platforms and various other portals has led to growth in semi-structured and unstructured data. Feasibility offered by NoSQL also drives the market growth with an impact on growth in structured and/or unstructured data from various web applications and retail transactions. Growth in app development, NoSQL is considered as the most suitable technology and is projected to increase in the coming years. Whereas, the complexity in software testing of NoSQL database designs as compared to RDBMS is impeding the market growth over the mid-term period. However, on the other hand, surge in investments in business analytics and big data tools in numerous organizations and increasing demand to improve the service efficiencies act as major opportunities for the market players operating in the global NoSQL market.
Segmentation Overview of the Global NoSQL Market
The global NoSQL market is segmented on the basis of type, application and industry vertical. These major market segments are further categorized into various sub-segments to study the market in detail considering various geographical dynamics and market determinants.
On the basis of type segment, the global NoSQL market is sub-segmented into:
- Graph Database
- Column-based Store
- Document Database
- Key-Value Store
On the basis of application segment, the global NoSQL market is sub-segmented into:
- Data Storage
- Metadata Store
- Cache Memory
- Distributed Data Depository
- Mobile Apps
- Web Apps
- Data Analytics
- Others (E-commerce and Social Networks)
On the basis of industry vertical segment, the global NoSQL market is sub-segmented into:
Competitive Insights of the Global NoSQL Market
Objectivity, Inc., Neo Technology, Inc., MongoDB, Inc., MarkLogic Corporation, Google LLC, Couchbase, Inc., Microsoft Corporation, DataStax, Inc., Amazon Web Services, Inc. and Aerospike, Inc. are some major key players included in the research study of the global NoSQL market.
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Keywords: NoSQL Market